Munich – Formycon AG has successfully completed a placement of its shares among international institutional investors and family offices. A total of 1,257,027 new shares were issued at a price of EUR 7.50 per share, with entitlement to participation in profits retroactively from January 1, 2013. The gross proceeds to the company of EUR 9,427,702.50 will be used to fund further product development activities. Under this transaction, the largest existing shareholders in Formycon AG exercised their subscription rights in full.
The capital raised will enable the company to drive forward with its two biosimilar product development projects according to plan. Further capital raisings are not currently anticipated for the foreseeable future. The company’s registered capital (Grundkapital), which until now has been EUR 7,369,656.00 divided among 7,369,656 bearer shares without par value but with an imputed nominal value of EUR 1.00 per share, is herewith increased to EUR 8,626,683.00. The transaction was arranged by Bankhaus Neelmeyer AG, a private bank based in Bremen; by Wolfgang Steubing AG, a securities trading bank based in Frankfurt; by Dr. Heinfried Brunsmann, a German certified public accountant; and by Neef Legal, a law firm based in Berlin.